58-3962. Periods of limitation. - Kansas Statutes

58-3962

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 39.--DISPOSITION OF UNCLAIMED PROPERTY ACT

      58-3962.   Periods of limitation.(a) The expiration, before or after the effective date of this act, or anyperiod of time specified by contract, statute or court order during which aclaim for money or property can be made or during which an action or proceedingmay be commenced or enforced to obtain payment of a claim for money or torecover property does not prevent the money or property from being presumedabandoned or affect any duty to file a report or to pay or deliver abandonedproperty to the administrator as required by this act.

      (b)   No action or proceeding may be commenced by the administrator against aholder concerning any provision of this act more than five years after theholder either specifically reported the property, or gave notice of a disputeregarding the property, to the administrator. In the absence of such a reportor other express notice, the period of limitation is tolled. The period oflimitation is tolled by the filing of a fraudulent report.

      History:   L. 1994, ch. 8, § 29;L. 1999, ch. 100, § 10; Jan. 1, 2000.